Largest losses in UK corporate history

Apr 2015, Tesco: Britain’s biggest retailer posts annual loss of £6.4 billion ($9.5 billion) – worst performance in its 96-year history

Feb 2009, Royal Bank of Scotland: Record loss of £24.1bn stems from £16.2bn write-down of assets linked to its purchase of ABN Amro, plus £7.9bn in operating losses

Feb 2009, Lloyds Banking Group: Loss of £11bn for 2008, driven by £7bn in bad loans and £4bn
in asset writedowns

May 2006, Vodafone Group: World’s largest mobile phone company announces net loss of £21.8bn after asset writedowns, largely for its operations in Germany following purchase of Mannesmann. Largest loss to date in EU history

Jun 2003, Cable & Wireless: 131-year-old telecoms group – which provided communications services for British Empire – announces it will cut 1,500 jobs, pull out of United States and suspend its dividend for a year, after plunging to a record £6.5bn annual loss

Sources: AFP, Reuters, Financial Times, Bloomberg

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